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The Effect of Age Discrimination Laws on Age-Earnings Profiles of Postsecondary Faculty

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  • Elda Pema

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Abstract

This study investigates the impact of the abolition of mandatory retirement on earnings profiles of faculty in postsecondary institutions. The Age Discrimination in Employment Act (ADEA) excluded faculty from the protection of age discrimination laws until January 1, 1994, due to perceived adverse effects of this legislation on the academic labor market. After 1994, research has found that more faculty are remaining employed beyond the age of 70 and more institutions are offering early retirement plans. This study adds to the literature by finding that the policy change has steepened age-earnings profiles for cohorts entering the labor market, suggesting a stronger job attachment, and, potentially, efficiency gains. Copyright International Atlantic Economic Society 2010

Suggested Citation

  • Elda Pema, 2010. "The Effect of Age Discrimination Laws on Age-Earnings Profiles of Postsecondary Faculty," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 38(1), pages 65-80, March.
  • Handle: RePEc:kap:atlecj:v:38:y:2010:i:1:p:65-80
    DOI: 10.1007/s11293-009-9201-y
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    File URL: http://hdl.handle.net/10.1007/s11293-009-9201-y
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    References listed on IDEAS

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    1. James Banks & Sarah Smith, 2006. "Retirement in the UK," Oxford Review of Economic Policy, Oxford University Press, vol. 22(1), pages 40-56, Spring.
    2. Ransom, Michael R, 1993. "Seniority and Monopsony in the Academic Labor Market," American Economic Review, American Economic Association, vol. 83(1), pages 221-233, March.
    3. Graves, Philip E & Marchand, James R & Thompson, Randal, 1982. "Economics Departmental Rankings: Research Incentives, Constraints, and Efficiency," American Economic Review, American Economic Association, vol. 72(5), pages 1131-1141, December.
    4. Richard Dusansky & Clayton J. Vernon, 1998. "Rankings of U.S. Economics Departments," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 157-170, Winter.
    5. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
    6. Orley Ashenfelter & David Card, 2002. "Did the Elimination of Mandatory Retirement Affect Faculty Retirement?," American Economic Review, American Economic Association, vol. 92(4), pages 957-980, September.
    7. David Neumark & Wendy A. Stock, 1999. "Age Discrimination Laws and Labor Market Efficiency," Journal of Political Economy, University of Chicago Press, vol. 107(5), pages 1081-1110, October.
    8. Moore, William J & Newman, Robert J & Turnbull, Geoffrey K, 2001. "Reputational Capital and Academic Pay," Economic Inquiry, Western Economic Association International, vol. 39(4), pages 663-671, October.
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    More about this item

    Keywords

    Faculty retirement; Age discrimination in employment act (ADEA); Mandatory retirement; Age-earnings profiles; J30; J71;

    JEL classification:

    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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